Purpose Unlimited Inc. Makes New Investment in Talen Energy Corporation $TLN

Purpose Unlimited Inc. bought a new position in shares of Talen Energy Corporation (NASDAQ:TLN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,269 shares of the utilities provider’s stock, valued at approximately $7,598,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fred Alger Management LLC lifted its position in Talen Energy by 8.4% during the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock worth $676,247,000 after buying an additional 140,345 shares in the last quarter. Reaves W H & Co. Inc. increased its position in Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after acquiring an additional 111,160 shares in the last quarter. Invesco Ltd. increased its position in Talen Energy by 35.6% in the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after acquiring an additional 378,357 shares in the last quarter. State Street Corp raised its stake in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the last quarter. Finally, Lone Pine Capital LLC raised its stake in shares of Talen Energy by 9.5% in the third quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock worth $507,272,000 after acquiring an additional 103,136 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $499.00 target price on shares of Talen Energy in a research report on Thursday, May 21st. JPMorgan Chase & Co. dropped their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wells Fargo & Company upped their price objective on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group initiated coverage on Talen Energy in a research note on Thursday. They issued a “buy” rating and a $499.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $452.46.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $436.29 on Friday. The firm has a market capitalization of $19.81 billion, a PE ratio of -651.17 and a beta of 1.80. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy Corporation has a 1 year low of $255.50 and a 1 year high of $451.28. The firm’s 50-day moving average is $365.73 and its 200-day moving average is $359.29.

Insider Buying and Selling at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director owned 2,606 shares of the company’s stock, valued at approximately $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is currently owned by company insiders.

About Talen Energy

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).